Use the Following to Answer Questions

question 229

Multiple Choice

Use the following to answer questions :
Scenario: Employment in Xenia
Xenia has 10,000 people. Of this population, 1,000 residents are below age 16, and 2,000 have given up looking for work. Currently, 500 people are unemployed but are actively looking for work; 2,500 work part-time, and the rest are fully employed.
-(Scenario: Employment in Xenia) Look at the scenario Employment in Xenia. What is the unemployment rate?

• A)7.14%
• B)4.25%
• C)11.11%
• D)2%

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Definitions:

Labor Force

The total number of people who are available to work, including those who are employed and those who are unemployed but seeking work.

Employed Category

Individuals who are working for pay or profit, actively engaged in a business or have a job from which they are temporarily absent.

Unemployed Category

A classification for individuals who are without a job but are available to work and have actively searched for employment within a specific period.

Labor-force Participation Rates

The percentage of the working-age population that is part of the labor force, either employed or actively seeking employment.